Farmland, IN (47340) is a small rural town located in Randolph County. The rent for two-bedroom apartments is $820, which is significantly lower than the US average of $1,430. Additionally, groceries are more affordable in Farmland compared to the national average; the Grocery Cost Index for this area is 92 versus 100 in the US. Local companies that contribute to the economy of Farmland include The Country Market – a family owned and operated grocery store with homemade deli sandwiches and fresh produce, Romey’s Automotive – an auto repair business specializing in car care services like oil changes and brake maintenance, Monrovia Fencing – a fence installation company offering custom solutions for residential and commercial properties, and Powell’s Tree Service – a tree removal company serving Farmland and the surrounding areas.
Farmland (zip 47340) has an unemployment rate of 4.6%. The US average is 6.0%.
Farmland (zip 47340) has seen the job market decrease by -4.1% over the last year. Future job growth over the next ten years is predicted to be 9.6%, which is lower than the US average of 33.5%.
Tax Rates for Farmland (zip 47340)
- The Sales Tax Rate for Farmland (zip 47340) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Farmland (zip 47340) is 4.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing ºÚÁÏÉçÇø.
Income and Salaries for Farmland (zip 47340)
- The average income of a Farmland (zip 47340) resident is $27,195 a year. The US average is $37,638 a year.
- The Median household income of a Farmland (zip 47340) resident is $58,628 a year. The US average is $69,021 a year.